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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2022
Earnings Per Common Share  
Earnings Per Common Share

5.    Earnings Per Common Share

Basic earnings per share include only the weighted average common shares outstanding. Diluted earnings per share include the weighted average common shares outstanding and any potentially dilutive common stock equivalent shares

in the calculation. Treasury shares are excluded for earnings per share purposes. For the three month periods ending June 30, 2022 and 2021, options to purchase 22,000 common shares, with an exercise price of $4.00 to $4.22, and options to purchase 12,000 common shares, with an exercise price of $4.19 to $4.22, respectively, were outstanding but were not included in the computation of diluted earnings per common share because to do so would be antidilutive. For the six month periods ending June 30, 2022 and 2021, options to purchase 12,000 common shares, with an exercise price of $4.19 to $4.22, and options to purchase 22,000 common shares, with an exercise price of $4.00 to $4.22, respectively, were outstanding but were not included in the computation of diluted earnings per common share because to do so would be antidilutive.

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Three months ended

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Six months ended

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June 30, 

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June 30, 

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2022

    

2021

    

2022

    

2021

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(In thousands, except per share data)

Numerator:

 

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Net income

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$

1,981

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$

1,708

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$

4,399

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$

3,789

Denominator:

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Weighted average common shares outstanding (basic)

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17,109

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17,073

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17,102

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17,068

Effect of stock options

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40

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58

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46

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46

Weighted average common shares outstanding (diluted)

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17,149

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17,131

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17,148

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17,114

Earnings per common share:

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Basic

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$

0.12

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$

0.10

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$

0.26

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$

0.22

Diluted

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0.12

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0.10

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0.26

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0.22

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